Introduction

Harvey Nichols offers an alternate form of luxury and cutting-edge fashion hub understanding by way of its stores and restaurants. Considered as a “the spot to be”, Harvey Nichols acts as a club for premium consumers and does not require any enrolment for access. The brands of elite, specialty, and also entrenched nature has been offered at the store by way of standards of customary assortments, ensuring customers possess feature of must-have modification pertaining to all of the storage room related needs that spans from conventional nature to that of uncommon nature (Harvey Nichols, 2021). In this context, Harvey Nichols is at present opening another signature store at Qatar, and the same shall be in the format of its past initiative of premium and luxury departmental store spanning ~80,000 square feet at Doha during 2017. The same shall be eighth biggest store worldwide owned by Harvey Nichols in addition to Qatar-based business gathering as well as Saleh Al Hamad Al Mana at the shopping zone of Doha Festival City (Harvey Nichols, 2021). The basis to open the store at Doha was in the enhancing of interest over the Harvey Nichols brand at Qatar, as well as in addition, showcase its offering to the household clients of Qatar.

Situational Analysis

The overall situation analysis shall be on the basis of PEST framework and the same is presented as follows:
• Political: In essence, Qatar has a government type that is emirate-based. Qatar represents a nation that cannot be stated to have majority form of rules system. Despite the same, the government at Qatar is stable and is business friendly with a strong consumer base with high spending capacity (Charfeddine et al., 2018). This is favourable to the company.
• Economic: The economy in the context of Qatar can be noted to be manufacturing focussed, and opportunity score for Qatar’s economy is noted to be 70.8. The company has illustrated improvements with respect to work opportunities as well as various trade opportunity (Charfeddine et al., 2018). Further, the country encourages significant investments from outsiders and the same makes it beneficial for Harvey Nichols to undertake business development here.
• Social: At present, consumers at Qatar can be noted to be hesitant for making spending on extravagant brands. However, they have an affinity towards extravagance and the general shoppers in Qatar can be noted to be refined with respect to their needs (Charfeddine et al., 2018). Further, they prefer to flaunt their wealth by way of enthusiasm on luxury brands. The same represents a favourable societal trend and can be considered to be an opportunity that can be used by Harvey Nichols for business development in an effective manner.
• Technology: Even as a retail business focussed on luxury brands, technology offers key factor that can aid Harvey Nichols in enhancing efficiency, customer service and overall quality in its store premises (Charfeddine et al., 2018). The use of smart phones, social media and e-commerce options provide the company with mediums, platforms and service enhancement tools that can be utilised to undertake successful analysis.

Environment Analysis

Organisation
Harvey Nichols represents a key retailer focussed on luxury and premium retailing based in United Kingdom. Further, the overall vision concerning this company shall be in furnishing definitive and fashionable style to the consumers along with excellence, food and home. The fundamental beliefs with respect to the company shall be duty-focussed, demonstrable skills, collaboration, uprightness and acknowledgment (Chevalier & Gutsatz, 2012).

Clients
The clients targeted shall be wealthy individuals who have an affinity towards luxury brands and high-end services. The targeted consumers shall usually be young. In specific, the targeted customers shall have high position in the society and significant levels of disposable income (Chevalier & Gutsatz, 2012).

Competitors
The key competitors to Harvey Nichols include United Fashion Company (“UFC”) and various other global brands that have the presence in the Qatar market. While the same can appear to cause aggressive rivalry in terms of competition and promotions, if the company can offer unique, high quality, and superior brand image in luxury space, then the company can manage competition successfully and gain market share (Chevalier & Gutsatz, 2012).

Suppliers
Harvey Nichols has a stable, established and diverse supplier base, and in this context, the company has a reliable and strategic partnership with its suppliers. There are no threats and rather value to be gained by Harvey Nichols from its suppliers (Mousa, 2019).

Market Potential Analysis

Harvey Nichols focusses on providing luxury products with superior ability to have exceptional form of retailing. The same has been illustrated in the company’s current operations across the globe where it has gained reputation for offering high fashion and luxury retailing along with food and restaurant services of high-end nature. Further, Qatar as a market place is ripe for new high-end luxury services as consumers at Qatar have an affinity towards extravagance and the general shoppers in Qatar can be noted to be refined with respect to their needs (Charfeddine et al., 2018). Further, they prefer to flaunt their wealth by way of enthusiasm on luxury brands. The same represents a favourable societal trend and can be considered to be an opportunity that can be used by Harvey Nichols for business development in an effective manner. In terms of competition, UFC and various other global brands that have the presence in the Qatar market. While the same can appear to cause aggressive rivalry in terms of competition and promotions, if the company can offer unique, high quality, and superior brand image in luxury space, then the company can manage competition successfully and gain market share (Chevalier & Gutsatz, 2012).

Conclusion & Recommendations: Strategic Options & Marketing Mix

In the basis of situational, environmental and market potential analysis, it is identified that Harvey Nichols has significant strategic potential in its new initiative in Qatar. In this context, the critical strategic option available to the company is to employ niche generic strategy as the luxury business is a service that is focussed on premium pricing and service quality rather than mass selling (Sternquist & Goldsmith, 2018). Hence, by way of focussing on quality superiority, luxury branding value and distinctiveness of its luxury offering, the company can utilise niche marketing as a strategic option to establish strong presence in the market place.

On the basis of the strategic option identified, the marketing mix proposed shall entail the following: [1] product/ service: niche offering focussed on quality superiority, luxury branding value and distinctiveness of its luxury offering focussed on premium and luxury departmental store that offers luxury products, cutting-edge fashion, food and restaurant, and other services, [2] Place: the service offering shall be provided in a luxury departmental store spanning ~80,000 square feet at Doha, [3] Pricing: premium pricing targeted on wealthy individuals who have an affinity towards luxury brands and high-end services, have high position in the society and significant levels of disposable income, and [4] Promotions: use of conventional promotions like billboards, television / other media, magazines, and modern mediums like social media, digital promotions and other such approaches (Sternquist & Goldsmith, 2018).

The analysis and proposals made shall ensure that Harvey Nichols’ new initiative in Qatar can be undertaken in a successful manner ensuring that the company targets right consumer base, uses appropriate strategic approach, and apply effective market mix to ensure business success, profitability growth and market share advantages.

References

Charfeddine, L., Al-Malk, A. Y., & Al Korbi, K. (2018). Is it possible to improve environmental quality without reducing economic growth: Evidence from the Qatar economy. Renewable and Sustainable Energy Reviews, 82, 25-39.

Chevalier, M., & Gutsatz, M. (2012). Luxury retail management: How the world’s top brands provide quality product and service support. John Wiley & Sons.

Harvey Nichols (2021). Harvey Nichols. Retrieved from:
https://www.harveynichols.com

Mousa, M. M. (2019). The Factors Affecting Luxury Brand Purchase Intention in Terms of Rational and Emotional Impact in Qatar. İşletme Araştırmaları Dergisi, 11(3), 2191-2204.

Sternquist, B., & Goldsmith, E. B. (2018). International retailing. Bloomsbury Publishing USA.